The Anti-Money Laundering Policy
The Anti-Money Laundering Policy follows the standards of the Anti-Money Laundering and Combating of Terrorism Financing ( hereinafter called to as the “AML”) methods of .
Money laundering can be defined as procedure of converting money or other material values gained illegally (by terrorism, human trafficking, child pornography, drug dealing, illegal arm trade, corruption, etc.) into money or investments that appear to be legitimate. The purpose of money laundering is to hide traces of illegal source of funds.
Marchanger is to execute due diligence whenever it is required to identify the customer and within the whole period of business relationship with the customer. All conditions are indicated in Terms and Conditions of our service.
The due diligence involves the following:
- Identification of the ultimate beneficial owner;
- Information accumulation on the purpose and intended nature of the business relationship;
- Collection of information necessary for consistent monitoring of business relationship including scrutiny of transactions undertaken throughout the course of that relationship to ensure that the transactions being performed are consistent with knowledge of the customer and his/her business and risk profile;
- Examination of the source of the funds involved in transaction.
Act of providing Marchanger with false information, identification or not true contact details will be treated as a misuse of the service. exchange.shortmony is bound to report about such cases to the authorities of the country where illegal operations were executed.
All information must be recorded: identification data, due diligence, identification documents provided for account verification, information and documents on transfers, which require identification, other identification documents which can be required in the course of business relationship with the client.